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5 Ancillary Business Ideas for Real Estate Agents

Posted On Thursday, 22 April 2021 21:46

Diversifying our streams of income as real estate agents is one of the best ways for us to gain financial freedom, and even achieve a better work-life balance. There are many ways to take the work we do in real estate and elevate it into more value in our marketplaces. We’ve entered the age where Realtors have to truly wear an entrepreneurial hat and think of ways to go beyond buying and selling homes. 

One of the best ways to diversify our income and expand our reach is to open up an ancillary business, an entity that’s related to real estate and property. This is great because we get to leverage the brand and reputation we have in our real estate business. 

It’s easier to get traction from an ancillary business than it is to start an entirely new and separate entity. 

But how do you know what kind of ancillary business would be a fruitful endeavor for you? There are so many ways your real estate career makes you more valuable to your community, and you can leverage that into a service that solves some of the common pain points people experience in the process of buying or selling a home. 

Here are a few ideas...

Home Staging

Staging a listed home is one of the most powerful and effective marketing strategies, and according to Forbes, statistics have shown that staged homes sell faster and for more money. If you have a knack for interior decor, this is an area you can thrive. 

A staging business isn’t just valuable for your own real estate company, it can be something other agents in your market can hire you for. 

Cleaning Services 

Some of the most successful businesses today specialize in cleaning, and this is a business you can add to what you do as an agent. The people doing it at a high level are specializing in helping offices and business premises clean and safe for people to work in. 

According to Father & Sons, a company offering commercial cleaning services in Atlanta, “a clean working environment is an important part of a functional office space, it’s important for busy business owners to build a relationship with a reliable cleaning operator who can take the stress of that off their plates.” 

This is a service that’s solving a huge paint point for businesses right now, and if you can be that resource, or even someone who can connect people in your market to reputable cleaning companies, you can create a stream of income. 

Property Management 

Did you know that the biggest struggle most real estate investors struggle with is finding reliable and trustworthy property management? When people own a lot of rental properties, it’s really difficult to stay on top of everything happening in each house and with each tenant. 

Property management is a great ancillary service if you’re a real estate agent because you know a lot about property, and you have systems that make keeping track of everything easier. 

If you can prove that you can be a reliable property management resource in your market, you will attract clients. Property management can also boost your main real estate businesses by becoming a source of leads.  

Real Estate Investing 

Real estate agents are around property all day everyday, but very few are able to venture into investing to generate a stream of cash flow and passive income. Every agent can invest, getting started is not that difficult. 

By adding an investing property wing to your traditional real estate business, you immediately add more value to what you do, and instead of relying only on the money you earn on commissions, you can diversify your income and even set yourself up for financial freedom. 

Investing also makes your main business more valuable. Not every deal is going to fit into the mold of a traditional real estate transaction, and if you’re an investor, you have a bigger box of options. 

Imagine if there’s a home that could be a better flip or a wholesale deal. What if you could be the agent who brings that solution to the table, instead of limiting yourself to one way of doing business? 

Real Estate Marketing Services 

Some of the most valuable ancillary businesses today are the ones that help real estate agents with marketing. If you have marketing chops, why not leverage that into an in-demand service that solves a problem for fellow agents? 

Some agents have found success with ancillary business that allow fellow Realtors to outsource their lead generation, and even offering social media resources and guidance. Right now, there’s a huge need for high quality home marketing content, especially when it comes to virtual tours and drone footage. This is a marketing service that will be a huge boost to your value proposition with sellers. Who wouldn’t want their home marketed in crisp, 4K video? 

Adding an ancillary business to your real estate business is one of the biggest opportunities we have to truly become entrepreneurs. We can get financial freedom so that we can stabilize our income. The biggest thing most people underestimate however is the impact an ancillary business can have on your main career. You can give yourself a massive boost in visibility and credibility in your market that will make people want to work with you that much more. 

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